Business Tips

Is a career in debt collecting for you?

What exactly does a debt collector do?

There are several different names for a debt collector, such as credit controllers and collection agents. These are the people that are responsible for collecting unpaid and late debt payments and can often be pretty unpopular with the general public! They can work for a consumer or for a large business and need to be clued up on legal rights and procedures during their work, or they can get into a lot of trouble.

As they collect debt from various types of people, they must be comfortable with interacting with the public, and to be able to conduct themselves in a professional manner. Going to people’s homes is normal as a debt collector and being friendly rather than aggressive is the best way to be.

It is also possible for debt collectors to work together with solicitors and bailiffs as well as issue court orders.

What is the job like?

The hours that a debt collector works can be varied and sometimes anti-social. They can work weekends and nights and working part-time is common in the industry. Although some of it is calling at people’s homes to collect debt, there is also office work and working from home, contacting people and working on paperwork. It is essential that a debt collector has a driving licence.

What are the core skills to become a debt collector?

Good verbal and written communication

Assertive nature

The ability to stay calm when under pressure

To be able to articulate points clearly

Have good but basic maths skills, in order to deal with matters of payment

To know all relevant legislation and laws

Basic IT skills

What is the career progression like?

There are around 20,000 people employed in debt collection in the UK, with plenty of opportunities to move your way up the ladder and build a real career from it. Those who want to progress often move into credit management and work in the broader market.

Many debt collectors work freelance and are self-employed, which obviously has it’s perks and it’s pitfalls, depending on how you look at it.

What kind of training courses are available?

There are several training courses that are available and out there with some taking longer to complete than others. Some courses provide a certificate of completion, whilst others are an NVQ type qualification. Some of these are free to enrol on and some students will be entitled to have their courses partially funded in order to help their work prospects.

Have you been effected by debt?

If you find yourself in debt and don’t want to have bailiffs knocking at your door, the best option is to seek professional help before the situation gets out of hand. A debt management company like Churchwood Finance can offer helpful advice on how to manage your debts and become debt free.